Mission Creek Capital Partners Inc. Sells 428 Shares of Genuine Parts (NYSE:GPC)

Mission Creek Capital Partners Inc. reduced its stake in shares of Genuine Parts (NYSE:GPC) by 1.8% in the third quarter, according to its most recent filing with the SEC. The fund owned 23,496 shares of the specialty retailer’s stock after selling 428 shares during the period. Mission Creek Capital Partners Inc.’s holdings in Genuine Parts were worth $3,282,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Ashton Thomas Securities LLC purchased a new position in shares of Genuine Parts during the third quarter worth approximately $26,000. Capital Performance Advisors LLP purchased a new position in Genuine Parts in the 3rd quarter worth $31,000. Concord Wealth Partners boosted its position in Genuine Parts by 79.3% during the third quarter. Concord Wealth Partners now owns 269 shares of the specialty retailer’s stock valued at $38,000 after buying an additional 119 shares during the period. Triad Wealth Partners LLC bought a new position in shares of Genuine Parts during the second quarter valued at about $40,000. Finally, Catalyst Capital Advisors LLC purchased a new position in Genuine Parts in the 3rd quarter worth approximately $44,000. 78.83% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on GPC. JPMorgan Chase & Co. cut their target price on shares of Genuine Parts from $162.00 to $135.00 and set an “overweight” rating on the stock in a report on Tuesday, October 22nd. UBS Group cut their price target on shares of Genuine Parts from $145.00 to $125.00 and set a “neutral” rating on the stock in a report on Wednesday, October 23rd. StockNews.com lowered shares of Genuine Parts from a “buy” rating to a “hold” rating in a report on Wednesday, October 16th. Redburn Atlantic upgraded Genuine Parts to a “hold” rating in a report on Monday, November 11th. Finally, Evercore ISI increased their price objective on Genuine Parts from $155.00 to $160.00 and gave the stock an “in-line” rating in a report on Tuesday, October 22nd. Seven equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $139.57.

Genuine Parts Price Performance

GPC opened at $127.38 on Wednesday. The stock has a fifty day simple moving average of $128.22 and a two-hundred day simple moving average of $135.96. Genuine Parts has a 12-month low of $112.74 and a 12-month high of $164.45. The company has a market cap of $17.71 billion, a price-to-earnings ratio of 16.39 and a beta of 0.94. The company has a current ratio of 1.17, a quick ratio of 0.57 and a debt-to-equity ratio of 0.81.

Genuine Parts (NYSE:GPC) last released its earnings results on Tuesday, October 22nd. The specialty retailer reported $1.88 EPS for the quarter, missing the consensus estimate of $2.42 by ($0.54). Genuine Parts had a return on equity of 27.23% and a net margin of 4.67%. The company had revenue of $6 billion during the quarter, compared to the consensus estimate of $5.94 billion. During the same period last year, the firm posted $2.49 earnings per share. The company’s revenue was up 3.0% compared to the same quarter last year. Research analysts predict that Genuine Parts will post 8.09 earnings per share for the current fiscal year.

Genuine Parts Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Friday, December 6th will be paid a dividend of $1.00 per share. The ex-dividend date is Friday, December 6th. This represents a $4.00 dividend on an annualized basis and a yield of 3.14%. Genuine Parts’s dividend payout ratio is currently 51.48%.

About Genuine Parts

Genuine Parts Company distributes automotive replacement parts, and industrial parts and materials. It operates in two segments: Automotive Parts Group and Industrial Parts Group segments. The company distributes automotive replacement parts for hybrid and electric vehicles, trucks, SUVs, buses, motorcycles, recreational vehicles, farm vehicles, small engines, farm equipment, marine equipment, and heavy duty equipment; and equipment and parts used by repair shops, service stations, fleet operators, automobile and truck dealers, leasing companies, bus and truck lines, mass merchandisers, farms, and individuals.